The ETH battle between bulls and bears is about to begin, and my choice is: wait for this position to strike decisively.
Brothers, the market noise is quite loud; some are shouting bullish, while others are calling bearish. A simple review will reveal that ETH is currently at a critical technical node.
🎯 Core Conflict: The key divergence point between bullish and bearish views.
Current market technical analysis shows significant divergence, leading to completely different trading paths:
· Bearish View (Target: $2,400)
· Main Reason: Technically, ETH may be forming a bearish flag pattern. If the price breaks below the support of this pattern, it may lead to a drop towards the $2,400 area.
· Key Position: Close attention should be paid to the strength of the support at the lower track of the flag; a break would turn the pattern bearish.
· Bullish View (Target: $3,600+)
· Main Reason: Other analyses indicate that ETH is building an inverse head and shoulders pattern, which is a classic bullish signal. Coupled with the liquidity expectations from the Federal Reserve's interest rate cuts, this could drive the price up.
· Key Position: Needs to effectively break through and hold above the $3,400 - $3,600 resistance area.
🚀 My Judgment and Plan
The divergence in the market means that volatility is about to increase. As a trader, I do not take sides too early; instead, I wait for the market to make its choice and then follow the stronger side. Purely guessing the bottom or top is amateurish behavior.
The strategy I've chosen is: wait for a confirmation of a pullback to key support before going long.
1. Trade Direction: Go Long
2. Ideal Entry Area: $2,900 - $2,950
· Logic: This range is a technical support level that has been tested multiple times previously and aligns with the “key accumulation area” mentioned in the bullish analysis. If the price pulls back to this level and shows clear signs of stabilizing (such as an hourly Pin Bar or a strong rebound), it will be a high risk-reward long entry opportunity.
3. Stop Loss Setting: Below $2,840
4. Target Outlook:
· First Target: $3,300 - $3,350
· Second Target: $3,550 - $3,600
📌 Summary
The market is entangled around the $3,000 area, with the bull-bear struggle intensifying. My scenario is: if the bears push the price down to around $2,900, I will observe the strength of the bulls' defense and look for a long entry signal. If the price breaks strongly above $3,400, then consider chasing long after a pullback. Right now, waiting patiently is more important than blindly opening positions.
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